Taos Real Estate

Though I am not a foreclosure listing broker, I know some of those who handle most of the foreclosures in the Taos real estate market.  And, at least one of them is quite busy doing the pre-valuation work that comes before the bank lists the property.

The mere fact that a property has been foreclosed does not make it a value play.  If anyone knows what's going on in the marketplace and the value of a property, it's a lender.  They aren't about to hit the market undervalued from the start.  Foreclosed properties can and do drop to steep discount  levels, but it is usually after some days on the market.

At any rate, the best way to keep tabs is with a custom search and alerts to let you know every time a price is reduced, on the day it's reduced.  My last client made a steal of a deal doing just that.  The home had been on the market many months, with several price drops over time by the lender.  When it hit her mark, she acted within 24 hours, and beat two other offers by just hours.  And, we got some great concessions in the deal as well.  There are deals to be had in the Taos real estate market, but you need to be vigilant.

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Jim Kimmons, Broker/Owner

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